ASX investors were buying GameStop (NYSE:GME) shares last week

GameStop is as popular as ever with ASX investors…

Two guys, one middle aged one older, play a computer game intently but with smiles on the couch.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Most weeks, Commonwealth Bank of Australia (ASX: CBA)'s brokerage platform CommSec tells us the most popular international shares (which are usually just US shares) that its ASX investors have been trading the previous week.

CommSec is one of the most widely used brokers in Australia. Because of this, this data can give us a valuable window into the US shares that ASX investors are finding enticing. So here are the top 10 US shares that CommSec-ers were buying and selling last week. This week's data covers 12-16 July.

Nothing can keep GameStop down

  1. GameStop Corp. (NYSE: GME) – representing 3.3% of total trades with an 89%/11% buy-to-sell ratio.
  2. Apple Inc (NASDAQ: AAPL) – representing 3.2% of total trades with a 72%/28% buy-to-sell ratio.
  3. Tesla Inc (NASDAQ: TSLA) – representing 2.9% of total trades with a 61%/39% buy-to-sell ratio.
  4. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2.5% of total trades with a 65%/35% buy-to-sell ratio.
  5. Virgin Galactic Holdings Inc (NYSE: SPCE) – representing 1.6% of total trades with a 49%/51% buy-to-sell ratio.
  6. NVIDIA Corporation (NASDAQ: NVDA)
  7. Microsoft Corporation (NASDAQ: MSFT)
  8. Amazon.com, Inc. (NASDAQ: AMZN)
  9. Nio Inc. (NYSE: NIO)
  10. Alibaba Group Holding Ltd (NYSE: BABA)

What can we learn from these trades?

That the meme is strong for one. Yes, 'meme stock' king GameStop is back at the top of this pile, displacing the giant Apple as well as perennial ASX favourite Tesla. Even more interestingly, 89% of GameStop trades last week were in the 'buy' column.

This coincides with GameStop shares hitting their lowest level since May recently. Clearly, there are more than a few investors hoping for another one of those lucrative 'pops'.

We see a less-enthusiastic commitment to other meme stocks like AMC, Nio and Virgin Galactic. Although, in saying that, Virgin Galactic investors appear to be more inclined to bail out than buy more, with 51% of trades in the 'sell' column.

Ever since Sir Richard's successful space flight earlier this month, investors have been stampeding to the exits. Since 8 July (3 days before the flight), Virgin Galactic shares have lost more than 38% of their value. Imagine what would have happened if it wasn't a successful flight!

We still see bubbling affection for the US big tech blue chips like Apple, Amazon and Microsoft. Apple in particular maintains a dominant position in this week's numbers, even pipping Tesla with its 72% 'buy' bias.

This week's report also marks the return of chipmaker NVIDIA after a few weeks' absence. NVIDIA has been on an exceptional run lately, rising roughly 50% between 13 May and 6 July. That's a pretty significant move from what is now a company with a market capitalisation of US$468 billion.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Amazon, Apple, Microsoft, NIO Inc., Nvidia, and Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Amazon, Apple, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.
Share Market News

5 things to watch on the ASX 200 on Monday

Here's what to expect on the local market on Monday.

Read more »

Three healthcare workers look and point at at medical image
Share Market News

Pro Medicus shares surge 10% to crack $300 as healthcare leads ASX 200 sectors

Pro Medicus shares just keep on going, rising 625% over the past three years.

Read more »

Magnifying glass in front of an open newspaper with paper houses.
Share Market News

How did ASX REITs vs. residential property investment perform in FY25?

We review the share price growth of the largest ASX REITs vs. residential property investment in FY25.

Read more »

A man and woman sit next to each other looking at each other and feeling excited and surprised after reading good news about their shares on a laptop.
Broker Notes

These ASX 200 shares could rise 55% to 65%

Analysts think these shares are dirt cheap at current levels.

Read more »

Young man with a laptop in hand watching stocks and trends on a digital chart.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Broker Notes

Why DroneShield, Nickel Industries, and CSL shares could be best buys

Let's see why Bell Potter is so bullish on these shares.

Read more »

A group of executives sit in front of computer screens in a darkened room while a colleague stands giving a presentation with a share price graphic lit up on the wall
Opinions

2 ASX 200 large-cap shares that this fundie is cashing in after phenomenal growth

Shaw and Partners portfolio manager James Gerrish says he knows this will be an 'unpopular call'.

Read more »

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's what Westpac says the RBA will do with interest rates next week

Are interest rates heading lower again? Let's find out what the banking giant is predicting.

Read more »